Ingram Micro to go public again - report

The distribution giant went private in 2016 and also filed for an IPO in 2022

IT distribution titan Ingram Micro looks like it may be heading to a new IPO.

The distributor is now working with Goldman Sachs and Morgan Stanley on an $8bn IPO that could launch as soon as April, Bloomberg reported Thursday, citing "people familiar with the matter."

This would not be Irvine, California-based Ingram's first attempt at listing.

The company, which went private in 2021 as a result of its $7.2bn acquisition by Platinum Equity, previously confidentially filed for an IPO in September 2022, but later passed on the opportunity.

Prior to its acquisition by Platinum, Ingram was owned for about six years by China-based HNG Group, which acquired the distributor in 2016 in a deal valued $6bn. HNG Group ran into financial difficulties because of over-investing in a wide range of assets outside of China.

Ingram Micro for decades was the world's largest IT distributor. However, its two biggest rivals, Tech Data and Synnex, merged in September 2021 to form a new company, TD SYNNEX, creating the new world leader in terms of IT distribution revenue.

An Ingram Micro spokesperson told CRN US via email the company is "not making any comments or statements at this time."

Ingram Micro this year has been making a couple of moves that might better position itself for investors who might want to jump on the IPO.

The distributor has gone through a number of small layoffs, including the laying off an unspecified number of employees and middle managers.

The company also plans to close its advanced logistics facility in O'Fallon, Missouri, at the end of June, which it said will result in the elimination of 60 positions.